Guideline Value for Chithi Vinayagar Street

Chithi Vinayagar Street guideline value

The current guideline value of Chithi Vinayagar Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Paruthivakkam village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of Chithi Vinayagar Street has changed

The guideline value for Chithi Vinayagar Street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which saw a significant increase to Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017, before climbing again to Rs 3,500 per sq.ft in 2023.

The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, marking an increase of 11% from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 550%.

Guideline values in Paruthivakkam

In Paruthivakkam, there are 14 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Chithi Vinayagar Street's 2024 figure below that median.

• James Street: Rs 2,800 per sq.ft (2024)
• Alagiri Naiken Street/Alagiri Street: Rs 4,400 per sq.ft (2024)
• Madhurai Naiken Street (Madurai Street): Rs 4,400 per sq.ft (2024)
• Margo Lane (Margoss Lane): Rs 2,800 per sq.ft (2024)
• Margo Street (Margoss Street): Rs 2,800 per sq.ft (2024)
• Mettu Palayam (Eruppu Padhai): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chithi Vinayagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration fee would be Rs 3,51,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chithi Vinayagar Street?

The Sub Registrar Office that covers Chithi Vinayagar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Paruthivakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Paruthivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a buyer and seller agree on a sale price, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Chithi Vinayagar Street?

The current guideline value of Chithi Vinayagar Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 550% over this period.

What is the median guideline value for streets in Paruthivakkam?

The median guideline value for the 14 streets in Paruthivakkam under the Alandur SRO is Rs 4,400 per sq.ft, which is higher than the current value of Chithi Vinayagar Street.

What are the stamp duty and registration fees for property in Chithi Vinayagar Street?

For a 1,000 sq.ft plot at the guideline value of Rs 3,900 per sq.ft, the total stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Chithi Vinayagar Street?

The Alandur Sub Registrar Office handles registrations for Chithi Vinayagar Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.